MADRID (dpa-AFX) - Repsol, S.A.(REPYY.PK), Thursday announced a decline in net profit to 1.756 billion euros in 2024, compared to 3.168 billion euros in the previous year.
Meanwhile, the company reported net loss of 36 million euros in the fourth quarter compared to net profit of 383 million euros in previous year quarter.
The company attributed the decline in net profit to complex geopolitical context; lower crude oil, gas, and electricity prices; moderate margins in refining; and low margins in chemistry.
On adjusted basis, Repsol reported earnings of 3.327 billion euros in 2024 compared to 5.011 billion euros in 2023, and 643 million euros in the fourth quarter compared to 1.195 billion euros in prior year.
Revenue from ordinary activities decreased to 59.147 billion euros in 2024 from 61.553 billion euros in the previous year. The same declined to 14.051 billion euros in the fourth quarter compared to last year's 15.512 billion euros.
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